Most people who are into formal employment are always looking forward to that opportunity where they will quit and get into self-employment. Should you think of self-employment, one of the most important things to remember is on how to keep track of your income. There are also instances where you may need proof of your income in some organization. In such a case scenario, a self-employed pay stub will come in handy. Rest assured though that creating your pay stub is as easy as ABC as long as you know what to do and where to look for help. Here is a brief guide to get you started into this process that can save you a lot of trouble and headache in the future.
First things first, you do not need to spend hours on end in a bureaucratic agency for you to get your pay stab in self-employment. But first things first, why would you need to have a self-employed pay stab in the first place? Sometimes your credit card company, renters, lending institutions and banks may need physical proof of income to qualify for whatever you are applying for. Simply put, you need to back up the information you have put in the application form with some physical proof of the same. You will also need to have some tangible proof when filing your tax returns. There are details such as the W2s and 1099S that ought to be filled out accurately and depending on your industry; it may not be easy to get these details if you have no pay stub.
The good news comes in the form of companies that offer this service to self-employed people at a small fee. These services are available online and going by the records, very many self-employed people in the US today are taking advantage of these services. Simply get online, find a website that deals with online pay stub generator services and you are good to go.
Note, however, that using this service may not be very practical for you if you have several employees working under you. If you do have employees, your best bet would be to opt for payroll services. Why do you need payroll services; because while you could be self- employed, those working for you are not meaning they will need to have their pay tubs as well? You can always consult your bank if they do offer payroll services, or even talk to professional bookkeepers and other accountants for the same. The other alternative would be to find a private company that offers payroll services as well which you get to pay depending on the number of employees that you have.